Changsheng sets up shop in Hong Kong

Changsheng Fund Management has become the latest mainland fund manager to set up shop in Hong Kong following it receiving approval from the China Securities Regulatory Commission (CSRC) to establish its Hong Kong-based subsidiary Changsheng Fund Management (Hong Kong).

The affiliate was licensed for type four (advising on securities) and type nine (asset management) by Hong Kong’s Securities & Futures Commission (SFC) on September 16.

The arrival of Changsheng boosts the total number of Mainland asset manager subsidiaries in Hong Kong to 21. The expansion helps Chinese fund managers to tap into the RQFII market and increase their overseas exposure.

Changsheng is the 27th largest asset manager in China with total AUM of around 37 billion RMB (US$5.87 billion).